Moody Aldrich Partners LLC Sells 257,642 Shares of Core Scientific, Inc. $CORZ

Key Points

• Moody Aldrich Partners LLC trimmed its holdings in Core Scientific by 64.5% in Q4, selling 257,642 shares and retaining 142,064 shares valued at about $2.07 million.
• Core Scientific reported $0.42 EPS for the quarter, beating estimates, but revenue of $79.8 million missed the $118.5 million consensus and was down 16% year-over-year.
• Analysts hold a consensus Moderate Buy rating with an average target of $25.07, though individual ratings range from Strong Buy to Sell.

Moody Aldrich Partners LLC trimmed its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 64.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,064 shares of the company's stock after selling 257,642 shares during the quarter. Moody Aldrich Partners LLC's holdings in Core Scientific were worth $2,068,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CORZ. Allworth Financial LP raised its holdings in shares of Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company's stock worth $25,000 after acquiring an additional 950 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company's stock valued at $34,000 after buying an additional 1,066 shares during the period. Russell Investments Group Ltd. raised its holdings in Core Scientific by 61.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company's stock valued at $67,000 after buying an additional 1,507 shares during the period. Athos Capital Ltd purchased a new stake in Core Scientific during the 3rd quarter valued at $76,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Core Scientific during the 3rd quarter valued at $90,000.

Wall Street Analyst Weigh In

CORZ has been the topic of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $25.00 target price on shares of Core Scientific in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods increased their target price on Core Scientific from $19.00 to $25.00 and gave the stock a "moderate buy" rating in a research note on Tuesday, January 27th. Canaccord Genuity Group increased their target price on Core Scientific from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. LADENBURG THALM/SH SH reduced their target price on Core Scientific from $24.50 to $23.75 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Finally, Wall Street Zen upgraded Core Scientific to a "sell" rating in a research note on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Core Scientific has a consensus rating of "Moderate Buy" and a consensus target price of $25.07.

Core Scientific Stock Down 5.3%

CORZ stock opened at $19.99 on Wednesday. The business's fifty day simple moving average is $17.32 and its two-hundred day simple moving average is $17.41. Core Scientific, Inc. has a twelve month low of $7.65 and a twelve month high of $23.63. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 17.09 and a beta of 6.34.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.69. The business had revenue of $79.76 million during the quarter, compared to analysts' expectations of $118.45 million. The business's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.69) EPS. Research analysts expect that Core Scientific, Inc. will post 0.07 EPS for the current year.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the firm's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $19.80, for a total transaction of $198,000.00. Following the transaction, the insider owned 2,000,348 shares in the company, valued at approximately $39,606,890.40. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 30,000 shares of company stock worth $515,400 in the last 90 days. Company insiders own 1.70% of the company's stock.

Core Scientific Company Profile

Core Scientific, Inc NASDAQ: CORZ is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific's service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.

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